Immuno-oncology assay Market Expected To Enable the Stakeholders for Market Opportunities

Immuno-oncology is a field of scientific research investigating how the immune system fights cancer. It is a procedure used by the immune system to find the potential to fight cancer cells. In addition, cancer has become one of the most frequent causes of death in western developed countries. Immuno-oncology approaches will help determine a new powerful therapeutic cancer cure that will probably eradicate most types of cancer.

The immuno-oncology analysis market size was $2,769 million in 2018, and is expected to reach 6,179 million by 2026, with an average annual growth rate of 10.6% from 2019 to 2026. Trends during the forecast period.

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The main factors driving the growth of this market are a significant increase in the incidence of cancer worldwide and an increased R&D activity to develop cancer treatments. However, the lack of skilled workforce and high capital investment are expected to curb the growth of the immunotumor analysis market during the forecast period. Conversely, increased interest in the development of automated immunotumor assays is expected to create favorable opportunities in the near future.

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The global immuno-oncology market in this report is researched based on product, technology, indication, application and geography. By product, the market is divided into consumables and software. Depending on the technology, the market is categorized by immunoassay, polymerase chain reaction (PCR), next-generation sequencing (NGS), flow cytometry, etc. Depending on the indication, it branches into colon cancer, lung cancer, melanoma, and bladder cancer. It is classified into clinical diagnosis and research by application. By region, it is analyzed in North America, Europe, Asia Pacific and LAMEA.

The consumables segment by product occupied the largest share of 60% in 2018, and is expected to remain the same throughout the forecast period due to the use of different types of reagents, kits, and instruments that perform analysis. However, the software sector is expected to grow at the fastest rate during the forecast period.

According to the technology, the PCR segment has occupied most of the market share of immune tumor analysis and is expected to retain its dominance over the forecast period. This is due to the extensive use of PCR during oncology diagnosis and research. In addition, technological advances in PCR technology, such as the advent of real-time PCR, further contribute to the growth of the immuno-oncology analysis market.

The main results of the study:
• Depending on the product, consumables were a major segment of the global immuno-oncology market in 2018 and are expected to grow at a CAGR of 10.2% over the forecast period.
• North America had a market share of 42% in 2018 and is expected to grow to a CAGR of 10.1%.
• Technically, the PCR segment occupied the largest market share of 60% in 2018.
• The research sector by application area had the highest market share in 2018 and is expected to lead the market during the analysis period.

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Regionally, North America also generated the highest revenue with a 44% share in 2018. This is due to the increase in R&D spending, the presence of an established medical infrastructure and the growing demand for technologically advanced research devices. However, the Asia-Pacific region is expected to grow at a CAGR of up to 12.2% during the analysis period due to increased spending on healthcare, increased per capita income, and improved healthcare infrastructure.

The leading players in the global immune tumor analysis market are Agilent Technologies, F. Hoffmann-La Roche, HTG Molecular Diagnostics, Illumina, Merck, NanoString Technologies, PerkinElmer, Qiagen, Sartorius and Thermo Fisher Scientific. To strengthen their presence in the market, these companies have adopted product launch, collaboration and mergers and acquisitions as key development strategies.

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